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Project Dunbar Might Light Match Under US CBDC Efforts

by CBDC Insider
September 7, 2021
in Asia, Business, Tech, US
Reading Time: 1min read
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Project Dunbar Might Light Match Under US CBDC Efforts
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Project Dunbar might light a match under central banks outside of Asia to speed up the development of central bank digital currencies (CBDCs) – including the U.S.

As announced through the Bank of International Settlements (BIS) in September, Project Dunbar will take shape as a CBDC platform, where several countries will issue CBDCs geared toward wholesale, cross-border use cases.

The cross-border settlement trials, according to the BIS, will include the Monetary Authority of Singapore (MAS), the Reserve Bank of Australia, Bank Negara Malaysia and the South African Reserve Bank.

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The announcement follows the July details of research from the BIS, which found that the key focal points of CBDCs should include interoperability and coordination between banks.

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